Ann: Investor Presentation - Virtual Resources Conference, page-70

For the millionth time, there is more than one valid investment strategy.

Many here aspire to hold LT, with time-spans measured in years, not minutes. For them, daily SP movements are just soap opera to entertain whilst waiting. Under your definition, Buffett is a baggie.

My problem with the shorters isn’t about the SP. I take exception to their racist and sexist memes, to their posting of pornography, to their ghoulish gleeful delight at people losing money, to their failure to disclose conflicts of interests, to whatever the hell happened with them being able to cover under the CR (I still believe something illegal happened here), to their juvenile and shallow tweets presented as wisdom unfolded. I have no idea why such corrosive vermin are allowed to flourish.

So my reaction to shorters isn’t about the SP. The SP will take care of itself in due time. My reaction is to something vile.